Among securitized office mortgages that came due during the first nine months of this year, only one in three was paid in full by 1 October, according to Moody’s Analytics.
Signaling a newfound seriousness about inflation, now running at about 61 percent, Turkey’s central bank raised its key interest rate by 5 points on 23 November to 40 percent, its highest level in almost 20 years.
Germany’s government has frozen all new spending commitments after the country’s constitutional court forbade the government from transferring €60 billion budgeted to fight the COVID War to programs designed to modernize the economy and mitigate climate change.
After flatlining in this year’s second quarter, Germany’s economy contracted 0.1 percent in the third. New data shows GDP continuing to decline, leading the country’s central bank to predict another three months of shrinkage.
Loan defaults and late payments are rising among Eurozone banks, with the lenders showing “early signs of stress” in their balance sheets, the European Central Bank (ECB) said in its semi-annual review of the industry’s financial stability.
Eurozone real estate companies are seeing mounting losses amid high interest rates, inflated operating costs, falling property values, and a weak rental market, the European Central Bank (ECB) reported.
As we had forecast when the European Central Bank began raising interest rates in July 2022, the EU would sink into recession. The Eurozone’s economy contracted by 0.1 percent in this year’s third quarter.
After piling up debt to fund COVID-era stimulus programs and health care costs, the world’s national governments will pay an additional $2 trillion in interest this year, according to data compiled by the International Monetary Fund and analyzed by research firm Teal Insights.
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
It’s global! As economies slow down, unemployment numbers will rise. And as we have detailed in this and previous Trends Journals, the slowdown has begun.